Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 14.0%
- Listing ID: 1432905
- Posted On: May 4, 2021
- Updated On: Jan 24, 2022
Description
*Listing Broker: MFI Commercial*
Link to Offering Memorandum & Public Files:
https://drive.google.com/drive/folders/1R9vC8wN2mOoiJBYEh6Xac9zKBy3xZZBc?usp=sharing
This is a unique opportunity to purchase a 100% Occupied, 9 Space Mobile Home Park with 1x, three bedroom Apartment Unit, and 1x commercial unit, that could be converted into a 3bdr Apt in Tucson Arizona. This property has a low operating expense ratio, and is ready for an incoming buyer to pick up the baton.
Currently, this property has 7 Tenant Owned Homes, 2 Homes on Rent-to-Own Agreements, 1 Park Owned Home (RV), and 1 NEWLY RENOVATED Stick Built 3 Bedroom Apartment, currently being rented on AirBnB!. Additionally the property has a commercial unit that could be renovated and turned back into a 3bdr Apartment as well! Property has 8 rentable Storage/Parking Spaces as well. Property is on City Water & Septic with ALL UTILITIES (with exception of trash) BILLED TO TENANT!
Great Low Maintenance Property! Seller has created a sound community, and the perfect opportunity for an incoming buyer to break into the Tucson Market!
Location
-- 12 Miles to Tucson International Airport
-- Easy Access to I-10 HWY!
-- 5 Minute Drive to Food City and Other Grocery Stores
-- Walking Distance to Casual Dining Restaurants & Convenience Stores
Park Information
Community Type: | All Age |
Number of MH Lots: | 9 |
Total Occupancy: | 100.0 % |
Average MH Lot Rent: | $350 |
Financial Information (Actual)
Gross Income: | $75,732 |
Operating Expense: | $12,082 |
Net Operating Income: | $63,650 |
Expense Ratio: | 16.0 % |
Debt Info: | Buyer to Bring Own Financing |
Lot Information
Singlewide Lots: | 9 |
Utility Information
Water: | City |
Water Paid By: | Tenant - Individual Service |
Sewer: | Septic |